All Forum Posts by: Chantal Moss

Hey Morry is this correct?

140,000 X 70% = $98,000

here is the break down

10% cost of sell   $98,000x.10=$9,800

15% profit             $98,000x.15= $14,700

5% repairs.           $98,000x.05= $4,900

This is a wholesale deal

1. How do I determine the ARV?

2. My investor paying for closing costs

3. No I dont have any comps nor I'm a realtor that have access to the MLS. Is there any other way to get comps of the area?

4. How do I determine how much the condo is really worth?

5. The HOA fee is 302 month, inlcludes insurance, water, trash, exterior maintenance, basic cable

On the contract on number 17* deposit held in escrow by $10,000 ("Escrow Agent") in the amount of (checks subject to clearance)

Can I have the investor pay the $10,000? 

The seller didnt mention about me paying a down payment. I just told her I have an potential investor who can buy the property. The seller filled in the $10,000 on number 17 of the "AS IS" contract. If I'm wholesaling the property for 140,000 do I include the $10,000 escrow deposit from the investor?

Im assigning the "AS IS" purchase contract to a buyer. I have some questions

1. On the  "AS IS' contract, do I put my name on the buyers line, the investors name? 

2. The owner put on the contract that she only accepts bank wire for final payment, can the investor go to escrow and have it bank wired to the owners bank?

3. The owner put deposit held in escrow is $10,000. How did she determined that? is that too much?

We have a deal for $119,000 cash. She posted for $123,000 and I talked her down to $119,00. For a 2 bed 2 bath condo with 1400 sq feet in great condition. I'm planning to sell it for $140,000. Is that too much? How do I determine if thats too much or too low?